Corporate & Financial News Release

NEW YORK--(BUSINESS WIRE)--
Voya Financial, Inc. (NYSE:VOYA) (“Voya” or the “Company”) today
announced that it has priced a private placement (the “Offering”) of
$350 million aggregate principal amount of 4.7% Fixed-to-Floating Rate
Junior Subordinated Notes due 2048 (the “Notes”). The Notes will be
guaranteed on an unsecured, junior subordinated basis by Voya Holdings
Inc. (“Voya Holdings”), a wholly-owned subsidiary of Voya. The Offering
is subject to customary closing conditions and is expected to close on
January 23, 2018.

As previously announced, the Company intends to use the net proceeds
from the Offering to repay at maturity our unsecured 2.9% senior notes
due 2018 (the “Senior Notes due 2018”) and to pay accrued interest
thereon. To the extent any proceeds remain after the repayment of the
Senior Notes due 2018, we will use such proceeds for general corporate
purposes.

The Notes and related guarantee have not been registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any state
securities laws. Unless they are so registered, the Notes and related
guarantee may not be offered or sold within the United States except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state
securities law. The Notes and related guarantee will be offered only to
persons reasonably believed to be “qualified institutional buyers” in
compliance with Rule 144A under the Securities Act and outside the
United States to non-U.S. persons in compliance with Regulation S under
the Securities Act.

This press release is neither an offer to sell, nor a solicitation of an
offer to buy the Notes, or any other securities, and shall not
constitute an offer to sell, or a solicitation of an offer to buy, or a
sale of, the Notes, or any other securities, in any jurisdiction in
which such offer, solicitation or sale is unlawful. Any offers of the
Notes will be made only by means of a private offering memorandum.

COMMENTARY REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this press release, including those describing the
closing of the Offering and the expected use of proceeds from the
Offering, constitute forward looking statements. These statements are
not historical facts but instead represent only Voya’s belief regarding
future events, many of which, by their nature, are inherently uncertain
and outside Voya’s control. It is possible that actual results will
differ, possibly materially, from the anticipated results indicated in
these statements. Factors that may cause actual results to differ from
those in any forward-looking statement also include those described
under “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations – Trends and
Uncertainties” in Voya’s Annual Report on Form 10-K for the year ended
December 31, 2016, filed with the Securities and Exchange Commission
(“SEC”) on February 23, 2017, Voya’s Quarterly Report on Form 10-Q for
the quarter ended June 30, 2017, filed with the SEC on August 2, 2017,
Voya’s Quarterly Report on Form 10-Q for the quarter ended September 30,
2017, filed with the SEC on November 1, 2017, and the other filings Voya
makes with the SEC.

About Voya Financial®

Voya Financial, Inc. (NYSE:VOYA), helps Americans plan, invest and
protect their savings — to get ready to retire better. Serving the
financial needs of approximately 13.6 million individual and
institutional customers in the United States, Voya is a Fortune 500
company that had $11 billion in revenue in 2016. The company had $541
billion in total assets under management and administration as of
September 30, 2017. With a clear mission to make a secure financial
future possible — one person, one family, one institution at a time —
Voya’s vision is to be America’s Retirement Company®.
Certified as a “Great Place to Work” by the Great Place to Work®
Institute, Voya is equally committed to conducting business in a way
that is socially, environmentally, economically and ethically
responsible and has been recognized as one of the 2017 World’s Most
Ethical Companies® by the Ethisphere Institute, as well as
one of the Top Green Companies in the U.S., by Newsweek magazine.